PE Fund Investments
Sterlite Power to raise Rs.725-Cr for global electrical equipment biz from GEF Capital, ENAM
Pune-based Sterlite Power is raising INR 725 crore for its global products and services (GPS) business from GEF Capital Partners and ENAM Holdings. Sterlite, which designs, builds, owns, and operates power transmission assets, hived off its GPS business in October this year. The current round marks the first fundraise for the business.Under its GPS business, the company offers a range of solutions in the conductors and cables segment. The product portfolio has high-performance conductors, optical ground wire and HV/EHV power cables, aimed at evolving demands of the power sector, facilitating the integration of the renewable energy ecosystem, enhancing grid resilience, and reducing the overall transmission losses. The GPS business currently has an open order book of INR 6,612 crore. The company has secured orders worth INR 2,715 crore during H1FY25.
Between Dec 2020 and Mar 2024, Sterlite Power Transmission had raised about USD 930 M from GIC, NIIF and AMP Capital.
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